As a seasoned analyst with a knack for navigating the volatile cryptocurrency market, I find myself intrigued by today’s unusual performance. While the broader market is taking a hit, with Bitcoin and Ethereum leading the decline, it’s fascinating to see some meme coins defying the downward trend.
Despite a general downturn in the crypto market following a positive sentiment surge over the weekend, certain popular meme cryptocurrencies are outshining their counterparts. On the flip side, two heavyweights of the meme coin category, SHIB and DOGE, are experiencing losses today, mirroring the trend among other large-cap coins.
BONK, WIF, POPCAT: Meme coins in top gainers today
On September 30, 2024, among the top five cryptocurrencies, two belong to the meme coin category. Specifically, Dog-coins Bonk (BONK) and Dogwifhat (WIF) experienced a growth of 7.1% each over the past 24 hours.
One variant of expressing this information could be: In the past 24 hours, about $2.17 million worth of positions were liquidated for those who had bet against Dogwifhat (WIF), a distinctive meme coin on Solana.
The popular feline-themed cryptocurrency, Popcat (POPCAT), which is one of the top 100 digital currencies, experienced a 2.4% growth in its total market value.
Currently, other cryptocurrencies are experiencing a decline today. The market benchmark has dropped by 3.3%, marking its steepest decrease in some time. While Bitcoin (BTC) is down by 3.1%, Ethereum (ETH) has seen a 2% drop overnight.
Shiba Inu (SHIB), Dogecoin (DOGE) losing value
Currently, some of the most prominent meme-based cryptocurrencies, specifically Dogecoin (DOGE) and Shiba Inu (SHIB), are experiencing a challenging day. They’re joined in this downturn by GALA, CORE, and XRP, making them among the poorest performers today.
Last night, Shiba Inu (SHIB) dropped by 6.4%, and Dogecoin (DOGE) saw a decrease of 5.4%. Interestingly, Synthetic Ether (WSTETH) has now overtaken Shiba Inu (SHIB), moving it down to the 14th largest cryptocurrency spot.
In simpler terms, the most popular meme crypto coin on the TON platform, called Dogs (DOGS), experienced a decrease in value equivalent to 8.1% of its total worth, causing its total value to fall below $400 million.
BabyDogeCoin (BABYDOGE) is down 5.1%.
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2024-09-30 19:42